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Dec 12, 2012
12/12
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the one thing we can be certain about is that ben bernanke is keeping his foot on the pedal right now. >> yeah, and john, when you compare what economists have forecasted when it comes to unemployment and what the fed is essentially forecasting. if you look at the officials and where they stand, 13 of the 19 officials say there won't be an increase likely until 2015, which would imply that the unemployment rate would remain above 6.5% for that amount of time. does that measure up with what wall street is forecasting? >> well, it measures up with what the fed is forecasting. i haven't looked at our own survey, which just came out. but the felt's fod's forecasts general little in lily in line street's. so, i think it does -- for me, one of the big questions is, all right, so, what happens once we get to that point? once we get to 6.5% unemployment, you know, the fed chairman said today that he thinks that the fed is likely to be able to move very gararadual to raise interest rates. of course, he's probably not going to be around. his term would have ended. but there's a risk that the fe
the one thing we can be certain about is that ben bernanke is keeping his foot on the pedal right now. >> yeah, and john, when you compare what economists have forecasted when it comes to unemployment and what the fed is essentially forecasting. if you look at the officials and where they stand, 13 of the 19 officials say there won't be an increase likely until 2015, which would imply that the unemployment rate would remain above 6.5% for that amount of time. does that measure up with...
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Dec 12, 2012
12/12
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they are waiting for ben bernanke and the federal reserve to see what they plan to do to help the economy move along and what he says, cushion the fall from the fiscal cliff and we will follow that on our noon news. >> we will go ahead and smile and say good morning, it is wednesday december 12th, i am dave clark. >>> a gunman is dead after shooting into a crowd at an oregon mall. sheriff's deputies say he killed two people before turning the gun on himself. joining us from portland where it all happened, good morning, dan. >> reporter: yes, good morning, pam and dave, what a horrible scene this was yesterday. 3:30 in the afternoon, exactly two weeks before christmas, this mall was teeming with shoppers and as many as 10,000 people were inside at the time when shots started ringing out. we understand from eyewitnesses a gunman walked through the macy's store of this maul and then -- mall and then walked to the food court and then fired shots and 5 to 18 more as he shot indiscriminately down the mall area here. we understand two people were killed, a third person was shot, she was wounded,
they are waiting for ben bernanke and the federal reserve to see what they plan to do to help the economy move along and what he says, cushion the fall from the fiscal cliff and we will follow that on our noon news. >> we will go ahead and smile and say good morning, it is wednesday december 12th, i am dave clark. >>> a gunman is dead after shooting into a crowd at an oregon mall. sheriff's deputies say he killed two people before turning the gun on himself. joining us from...
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Dec 13, 2012
12/12
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. >> the fed chair ben bernanke says just the threat of a "fiscal cliff" is already creating uncertainty in the economy. and that is not good for the stock market. >>> "fiscal cliff" negotiations though are throwing a wrench into year end tax planning, as well. >> but there are plenty of actions to take starting with changes of tax laws that expire at the and of the year. jill schlesinger, editor at large for cbsmoneywatch.com joins us now with information on tax laws that expire at the end of the year. >> good morning. >> first start with people trying to reduce their mortgage debt. >> reporter: this is really interesting because homeowners who have restructured their mortgage debt since the housing crash have enjoyed a big benefit. no tax on the amount of debt that was reduced or forgiven. if we go back before the recession if a lender agreed to reduce principal or release you from a mortgage obligation, it was considered income. starting next year any debt discharge will be considered income and you're going to owe taxes on whatever was owed on the forgiven amount so here's your year
. >> the fed chair ben bernanke says just the threat of a "fiscal cliff" is already creating uncertainty in the economy. and that is not good for the stock market. >>> "fiscal cliff" negotiations though are throwing a wrench into year end tax planning, as well. >> but there are plenty of actions to take starting with changes of tax laws that expire at the and of the year. jill schlesinger, editor at large for cbsmoneywatch.com joins us now with...
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Dec 11, 2012
12/12
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if it works it might soften the blow if the nation does go over the "fiscal cliff" but fed chair ben bernanke says if a budget deal isn't reached, there is little the central bank can do to offset the shock of those spending increases and tax cuts. and holiday shopping is leading to more work. leading jobs placement firm says retailers added more than 465,000 seasonal workers last month. that's up 21% from a year ago. that's your moneywatch. for more, stay with cbsmoneywatch.com. in new york, i'm ashley morrison. >>> time now for a quick look at what's coming up later on "cbs this morning." norah o'donnell joins us from new york. >> good morning. great to see you. we're talking about drug smugglers today. they are getting bolder, moving up the california coast. so we are going on the ocean with the coast guard and their ships to try to stop them. also, we tip off the college basketball season, celebrating 75 years of march madness. never too early to talk about march madness. jim nance has called more final four games than anyone. we'll look back at the players, teams and march madne
if it works it might soften the blow if the nation does go over the "fiscal cliff" but fed chair ben bernanke says if a budget deal isn't reached, there is little the central bank can do to offset the shock of those spending increases and tax cuts. and holiday shopping is leading to more work. leading jobs placement firm says retailers added more than 465,000 seasonal workers last month. that's up 21% from a year ago. that's your moneywatch. for more, stay with cbsmoneywatch.com. in...
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Dec 12, 2012
12/12
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ben bernanke will announce results of the meeting before noon today. he's expected to announce the federal reserve will start a new round of bond buying as it tries to support the tragic economic recovery. bernanke says it is not enough to keep the economy from going over the fiscal cliff but it could help cushion the fall. >>> 8:47. let's bring you up to date on some of the other top stories we're following for you right now -- look at this. a san jose man was arrested after his truck slammed into an apartment building early this morning and children were sleeping inside. luckily nobody was seriously hurt. the building was severely damaged. the 21-year-old was arrested on suspicion of drunk driving. >>> and the united states will be pushing for a united nations security council resolution condemning north korea for lunching that rocket. the u.s. believes north korea uses rocket line of -- launches like that to test its long- range missil technology. >>> and house speaker john boehner this morning said he and president obama are still far apart in the
ben bernanke will announce results of the meeting before noon today. he's expected to announce the federal reserve will start a new round of bond buying as it tries to support the tragic economic recovery. bernanke says it is not enough to keep the economy from going over the fiscal cliff but it could help cushion the fall. >>> 8:47. let's bring you up to date on some of the other top stories we're following for you right now -- look at this. a san jose man was arrested after his truck...
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Dec 12, 2012
12/12
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that will be ben bernanke speaking today at 12:30. and that's the reason the stock futures are higher now. >> i guess yahoo got a bit of a makeover, too. >> reporter: it unveiled new versions of its free email service as it tries to regain some of the ground it los togmail. heand they have new apps. it's the first major product revamp that we have seen at yahoo since marisa mayer took over as the new ceo five months ago. trying to compete with google. that's a tough competitor. see how it goes. >> they're a monsta. >> hour speaker of the house. >> ashley morrison of cbsmoneywatch.com, thank you. >>> you can catch a ride to los angeles from san francisco and it all starts today for a buck. it's part of a promotion from a newest coast service called megabus. double-decker buses will provide trips down to los angeles. there is the bus right there. a live look. and they go to reno, too. the dollar fare by the way is only good for this week. it will go up but looks like you're riding in comfort down to l.a. and a lot of folks taking advant
that will be ben bernanke speaking today at 12:30. and that's the reason the stock futures are higher now. >> i guess yahoo got a bit of a makeover, too. >> reporter: it unveiled new versions of its free email service as it tries to regain some of the ground it los togmail. heand they have new apps. it's the first major product revamp that we have seen at yahoo since marisa mayer took over as the new ceo five months ago. trying to compete with google. that's a tough competitor. see...
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Dec 11, 2012
12/12
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if you're ben bernanke, why would you throw a curveball at this hour. we'll see. that press conference, a little more than 24 hours from now. >> we're continuing e inine ini more on trip adviser. look at the cnbc realtime exchange. we did see the features point to a higher open. here at the big board, coca-col coca-cola -- [ bell ringing ] >> and ringing the bell there. trip adviser, interesting deal, because the pricing at which the shares were bought. >> you've got to remember, of course, you have a change in voting control. it had been controlled by barry diller, it will now be controlled by liberty media. they will own 22% of the economics of trib adviser, but 57% of the total votes of the company, effectively controlling the company. so any thoughts you might have as a shareholder in erms it of the future takeover premium in terms of changing control. well, for now, don't expect them to go to the price that john malone and liberty are paying here. that's quite a price, $62.52 a share. we'll see what their stock does. we anticipate it will move up. but nowhere
if you're ben bernanke, why would you throw a curveball at this hour. we'll see. that press conference, a little more than 24 hours from now. >> we're continuing e inine ini more on trip adviser. look at the cnbc realtime exchange. we did see the features point to a higher open. here at the big board, coca-col coca-cola -- [ bell ringing ] >> and ringing the bell there. trip adviser, interesting deal, because the pricing at which the shares were bought. >> you've got to...
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Dec 13, 2012
12/12
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ben bernanke, the chairman of the federal reserve, said anxiety over the fiscal cliff is already hurting the u.s. economy, undermining consumer confidence and delaying job-creating business investment. and he said there's nothing the fed can do to prevent a recession if there's not a deal here in washington. but this morning, like so many mornings before it, has not provoked either side to come closer to a deal. days of strategic silence descended wednesday into partisan frustration over the seemingly end its stalemate. house speaker john boehner on president obama. >> his plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and his plan does not begin to solve our debt crisis. it actually increases spending. >> and here's white house spokesman jay carney's dismiss i've assessment of boehner's proposal to permanently extend all income tax rates until they're replaced next year under a redrawn tax code with fewer loopholes and deductions. >> those magic beans are just beans and that fairy dust is just dust. it is not serious. and t
ben bernanke, the chairman of the federal reserve, said anxiety over the fiscal cliff is already hurting the u.s. economy, undermining consumer confidence and delaying job-creating business investment. and he said there's nothing the fed can do to prevent a recession if there's not a deal here in washington. but this morning, like so many mornings before it, has not provoked either side to come closer to a deal. days of strategic silence descended wednesday into partisan frustration over the...